Signet Jewelers (NYSE:SIG) Price Target Lowered to $65.00 at Bank of America

Signet Jewelers (NYSE:SIG) had its price objective cut by Bank of America from $95.00 to $65.00 in a research report report published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently commented on SIG. Wells Fargo & Company raised their price target on shares of Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com downgraded Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Telsey Advisory Group dropped their price target on Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.20.

Signet Jewelers Stock Up 1.2 %

Shares of NYSE:SIG opened at $57.29 on Wednesday. The business’s 50-day moving average is $85.61 and its 200-day moving average is $87.19. Signet Jewelers has a 1 year low of $54.44 and a 1 year high of $112.06. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 6.59, a P/E/G ratio of 0.95 and a beta of 2.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.55 and a quick ratio of 0.25.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05). The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.37 billion. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. Signet Jewelers’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. Equities research analysts predict that Signet Jewelers will post 9.88 earnings per share for the current year.

Signet Jewelers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, January 24th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, January 24th. Signet Jewelers’s dividend payout ratio (DPR) is 13.35%.

Insider Transactions at Signet Jewelers

In other news, insider Joan M. Hilson sold 8,000 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $94.57, for a total value of $756,560.00. Following the completion of the sale, the insider now owns 200,844 shares in the company, valued at $18,993,817.08. This represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eugenia Ulasewicz sold 3,333 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $99.63, for a total transaction of $332,066.79. Following the completion of the sale, the director now owns 26,085 shares of the company’s stock, valued at approximately $2,598,848.55. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. 3.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. purchased a new stake in shares of Signet Jewelers during the 3rd quarter valued at $25,000. Brown Brothers Harriman & Co. bought a new position in Signet Jewelers during the second quarter valued at about $51,000. Erste Asset Management GmbH purchased a new stake in Signet Jewelers during the third quarter worth about $77,000. CWM LLC raised its position in Signet Jewelers by 177.3% in the third quarter. CWM LLC now owns 1,148 shares of the company’s stock worth $118,000 after acquiring an additional 734 shares during the period. Finally, KBC Group NV boosted its stake in Signet Jewelers by 25.5% in the third quarter. KBC Group NV now owns 1,293 shares of the company’s stock valued at $133,000 after acquiring an additional 263 shares during the last quarter.

Signet Jewelers Company Profile

Signet Jewelers Limited operates as a diamond jewelry retailer. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in jewelry stores in malls, mall-based kiosks, and off-mall locations in the United States and Canada primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Outlet, Zales Jewelers, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through its digital banners, James Allen and Blue Nile.